China Deal to Boost Economy

• China's drive to join the World Trade Organization is a crucial part of its plan to reform its economy.
• In the past 20 years, the Chinese economy has grown rapidly as the Country embraced foreign trade and investment.
• China is now one of the World's leading exporters, and also the biggest single destination for foreign investment of any developing Country.
• Under WTO rules, China would be guaranteed nondiscriminatory access to the markets of all major industrial Countries, who are all members of the WTO.
• In return, foreign companies would be given the right to trade and invest in China, with the confidence that any concessions granted by the Chinese government could not be reversed.
• Aa a precondition China will have to cut its tariffs and gradually end protectionism of its state-run industries.

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